Global Smart Connected Air Conditioner Market 2016-2020

Global overview of the global smart connected air conditioner market

According to Technavio’s market research analysts, the global market for smart connected air conditioners will grow at a profound CAGR of over 60% by 2020. The rising popularity of smart gadgets that can convert conventional remote-controlled air conditioners into smart devices will aid in the strong growth of this market during the forecast period. Many consumers do not wish to buy a smart connected air conditioner just to upgrade their conventional air conditioners. To overcome this issue, many key players and start-ups have started developing smart accessories that can transform the user’s existing window, wall-mounted, and mobile air conditioners into devices that offer more convenience and comfort.  For instance, a start-up recently launched a smart device called Sensibo, which can connect to the user’s smartphone and remotely control the settings of the unit and automates the home climate control with intelligent features, including location-based activation and timer settings.

In terms of geography, our analysts estimate the APAC region to be the largest region in terms of overall air conditioner sales. As a result, this region is anticipated to be a hot spot for large smart connected air conditioner players like LG and Samsung. During the forecast period, regions like Japan, Singapore, and Hong Kong are expected to witness a stark increase in the sales of smart appliances like smart connected air conditioners due to the hot climate in these countries and the growing awareness of smart integrated appliances.

Competitive landscape and key vendors

This market is estimated to grow at a steady pace during the forecast period. Since many large and small players are investing significantly in smart appliances, the level of competition among them is expected to intensify over the next five years. This increase in the level of competition is leading to the introduction of new innovative machines, which will, in turn, affect the market’s landscape during the forecast period.

Key players in this market are -

• Daikin Industries
• Haier
• LG Electronics
• Mitsubishi Electric
• Samsung Electric

Other prominent vendors in this market are Videocon, Voltas, FUJITSU GENERAL, Blue Star, Friedrich, and Electrolux.

Segmentation by product type and analysis of the smart connected air conditioner market

• Smart split air conditioners
• Other (smart portable air conditioner and smart window air conditioners)

At present, split air conditioners are probably the best and most preferred option for people living in urban areas. This product segment commands a high market share because of factors like its ease of use in areas where access to an outside window is restricted. During the predicted period, the demand for smart connected split air conditioners will increase as most consumers are already aware of the benefits of split air conditioners.

Segmentation by distribution channel and analysis of the smart connected air conditioner market

• Specialty retailers
• Departmental stores

According to this market study, most consumers will prefer purchasing smart connected air conditioners from speciality retailers as they offer a large variety of brands, many product portfolios (brand specific or, multi-branded), and sell similar types of products across all outlets.

Key questions answered in the report include

• What will the market size and the growth rate be in 2020?
• What are the key factors driving the smart connected air conditioner market?
• What are the key market trends impacting the growth of the global smart connected air conditioner market?
• What are the challenges to market growth?
• Who are the key vendors in the global smart connected air conditioner market?
• What are the market opportunities and threats faced by the vendors in the global smart connected air conditioner market?
• Trending factors influencing the market shares of the Americas, APAC, and EMEA.
• What are the key outcomes of the five forces analysis of the global smart connected air conditioner market?

Technavio also offers customization on reports based on specific client requirement.

Related reports

• Global Residential Air Conditioners Market 2015-2019
• Non-Residential Air Conditioners Market in Europe 2015-2019